Hamburg: Prime Minister Narendra Modi today appreciated 'momentum in BRICS' under the Chairmanship of China, and for his part, Chinese President Xi...

Hamburg: Prime Minister Narendra Modi today appreciated "momentum in BRICS" under the Chairmanship of China, and for his part, Chinese President Xi Jinping appreciated India's strong resolve against terrorism and lauded India's success in economic and social development. "President Xi appreciated India's strong resolve against terrorism and the momentum in BRICS introduced under India's Chairmanship and through the outcomes of the Goa Summit in 2016. He also appreciated India's success in economic and social development and wished India even bigger success," an official statement from the Indian Ministry of External Affairs said here. The leaders of the five BRICS countries - Brazil, Russia, India, China and South Africa held an "informal meeting" on the sidelines of G20 Summit in Hamburg, Germany. "This was in run up to the forthcoming 9th BRICS Summit in September in Xiamen, China. President Xi of China said he looked forward to welcoming the BRICS leaders," the statement said. "In their interventions, the leaders discussed preparations and priorities for the forthcoming Xiamen BRICS Summit". Prime Minister Modi in his address mentioned that BRICS has been a "strong voice and needs to show leadership" on terrorism and global economy. Prime Minister appreciated "momentum in BRICS" under the Chairmanship of President Xi and extended full cooperation and best wishes for the BRICS Xiamen Summit. Concluding the meeting immediately after Mr Modi's remarks, President Xi appreciated India's strong resolve against terrorism and also "wished India even bigger success" in economic field, the MEA said. In his address, Mr Modi "called for expeditious action to establish BRICS rating agency and stated that cooperation on development of Africa should be a priority". He also called for greater people-to-people exchanges. Mr Modi stressed that G20 should collectively oppose terrorism financing, franchises, safe havens, support and sponsors. Referring to reforms in India, including the recent introduction of GST, the Prime Minister described it as "the biggest reform" in India during past seven decades. "This will create a unified market of 1.3 billion people," Mr Modi said. The Prime Minister said it was necessary to work together for sustained global economic recovery. He advocated collective voice against the practices of protectionism, especially in the spheres of trade and movement of knowledge and professionals. He reiterated India's commitment to implement Paris Agreement in "letter and spirit" and described its implementation globally as essential to fight climate change.